Been through this with more trucks than I can remember, including my own.
A bad valve guide, broken ring, piston etc will still let the engine rev. Even with 8 cylinders running our trucks are very responsive. No power equals lack of spark, fuel, or incorrect timing of combustion. With cam/crank sensor being bad PCM starts sparatically firing injectors and coils and is confused. Therefore you'll get no power and combustions happening on wrong stroke forcing air backwards into intake causing your blowby and funny sound through throttle body and filter housing. Like an old 4 barrel sound "thwomp" minus the power. These sensors are getting increasingly hard to find yet being over 10 years old, gen3 engines are going out left and right due to this cam sensor. I do not believe your engine is hurt.